Transparency Market Research has published a new report on the global radiofrequency identification (RFID) market. According to the report, the global radiofrequency identification (RFID) market is predicted to progress from US$1.9 bn in 2013 to US$5.3 bn by 2020.The counterfeit drug industry has become a real threat worldwide, creating a pressing need to use simple yet effective technology to check this problem. With RFID having proven useful in doing so, its use in the healthcare industry is only expected to rise.

The report offers a detailed overview of the market segments and sub-segments. The trends and opportunities in the market are discussed at length. A detailed analysis of factors driving and restricting the market has been included. The report presents an evaluation of the market by making use of historical data, current market status, and qualitative insights. The macro and microeconomic indicators have also been analyzed in the study.

Overview of the Medical Pendant Systems Market

The global medical pendant systems market is driven by the growing need for these systems in intensive care units and operating theaters. The adoption of medical pendant systems has been fueled by the effective results achieved in the areas of endoscopy and surgery. A growing demand for medical support systems with advanced features is another factor driving the market. Moreover, innovation and technological advancements enabling medical pendant systems to move as needed by the press of a button are encouraging the adoption of these systems. However, the market is restricted by the high cost of medical pendant systems, causing many hospitals to hesitate in adopting these systems. Hospitals unable to afford these systems contemplate using alternatives, which can be a threat to the growth of the market.

The rising demand for flexible, more space saving, and light-weight systems and systems with multiple features is compelling manufacturers to design and develop newer systems with advanced features. This is leading to many product innovations and will thus boost the demand for medical pendant systems. Another trend in the market is the development of medical pendant systems with higher number of electrical points and gas services. The high usage of electronic devices by hospitals is driving this trend. Such innovations in products are expected to open new doors of opportunities in the market.

The global medical pendant systems market is segmented on the basis of geography into Europe, Asia Pacific, North America, and the Rest of the World. Of these, North America led the market in 2015. The market in Asia Pacific is expected to grow considerably owing to higher investments in the healthcare sector. By type, the demand for fixed retractable medical pendants is expected to be high, as per TMR analysts.

Companies Mentioned in the Report

The report profiles major players operating in the global medical pendant systems market. The business and financial overviews of each of the companies have been included. Factors driving and limiting the growth of the companies are also included. The report includes strategies adopted by key players, their recent developments, and product picture and specifications. This enables readers and enterprises to make informed decisions regarding investments in the global medical pendant systems market. Following are the companies studied in the report: ELEKTRA HELLAS, Uttam,Starkstrom, Hipac, Unicorn Medicals, Ondal, Brandon Medical, Beacon Medaes, Medilon, and Medimax.

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Transparency Market Research is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.